Chinese healthtech MediTrust raises $300 mn ahead of IPO

Boyu Capital, Lillly Asia Ventures, and CICC participated in the funding round

China-based healthtech firm MediTrust Health has raised around $300 million in a fresh funding round, months ahead of its planned initial public offering (IPO) at the end of the year, media reports said.

Investors such as Boyu Capital, Lillly Asia Ventures, and CICC participated in the funding round for MediTrust Health. Returning investors such as Sinovation Ventures, Huaxing Growth Capital, Shanghai Biopharmaceutical Investment Fund, and Marathon Venture Partners also participated. The firm raised around $150 million in its Series b funding round five months ago.

Earlier this year, China-based tech giant Tencent participated in a funding round for Chinese healthtech firm DXY. The startup raised around $500 million in the fresh funding round which was led by Trustbridge Partners.

Along with Tencent, an existing investor in DXY, Hillhouse Capital’s early-stage focused GL Ventures also participated in the funding round. So far, the healthtech startup has raised around $680 million in separate funding rounds.

DXY started out as a knowledge-sharing platform for doctors and has over time added a consumer-facing aspect by bringing wellness advice and medical consultation services to the public.

In September last year, Shanghai Kyee Technology secured around $64 million in its Series D funding round led by Tencent. Besides Tencent, existing investors that also participated in the funding round for Shanghai Kyee Technology include DYEE Capital, Royal Sea Capital, Beijing Meihe Zhongbang Technology and Jiaxing Guangrun.